Kentucky Retirement Systems Insurance Trust Fund Has $1.14 Million Holdings in Sysco Co. (NYSE:SYY)

Kentucky Retirement Systems Insurance Trust Fund trimmed its stake in Sysco Co. (NYSE:SYY) by 9.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,560 shares of the company’s stock after selling 1,502 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Sysco were worth $1,137,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. TruNorth Capital Management LLC acquired a new stake in Sysco during the second quarter worth about $25,000. Armstrong Advisory Group Inc. lifted its position in shares of Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after acquiring an additional 310 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Sysco during the third quarter valued at approximately $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Sysco in the third quarter valued at $31,000. Finally, Focused Wealth Management Inc bought a new position in Sysco in the third quarter worth $37,000. Institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

SYY opened at $74.95 on Monday. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The company’s 50 day simple moving average is $75.93 and its 200-day simple moving average is $74.74. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The stock has a market capitalization of $36.82 billion, a P/E ratio of 19.27, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). The firm had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the business posted $1.07 earnings per share. Sell-side analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. The trade was a 7.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SYY. Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Wells Fargo & Company dropped their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Barclays increased their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.77.

Sysco Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.